Who is actually using XRP? Separating reality from narrative

Few cryptocurrencies are so polarizing. $XRP. Critics of cryptocurrencies and the entire DeFi ecosystem often argue that $XRP It has no real utility. They argue that it exists primarily as a speculative asset and has limited real-world use.

at the same time, $XRP We maintain one of the largest and most vocal communities in the cryptocurrency space – $XRP army. They believe that altcoins will eventually power the world’s financial infrastructure.

The truth lies somewhere between these two extremes. $XRP While it certainly has utility, its use is more specific and limited than many people assume.

$XRP More unique than any other cryptocurrency

$XRP is the native token of $XRP Ledger was founded in 2012 with the express purpose of enabling fast and efficient cross-border payments.

Unlike Bitcoin, which focuses on decentralized storage of value, and Ethereum, which focuses on programmable smart contracts. $XRP was primarily designed to move funds quickly and cheaply between financial systems.

transaction in $XRP The ledger clears in about 3-5 seconds and costs less than a penny. This results in $XRP It is particularly efficient as a bridge currency, allowing instant exchange between two different fiat currencies without requiring banks or payment providers to hold large reserves in foreign accounts.

millions hold $XRP — but most usage is from traders and infrastructure

Individual investors make up the largest group $XRP Today’s users. As of early 2025, $XRP Ledger has an account with around 6-7 million funds invested, which is what the wallet looks like. $XRP.

After adjusting for exchange controls and users holding multiple wallets, analysts estimate that approximately 2 million to 3 million people worldwide actually hold wallets. $XRP.

$XRP Ledger statistics as of February 19, 2026. source: $XRP scan

Cryptocurrency exchanges are also major users. Used on platforms like Binance, Bitstamp, Kraken, Uphold and more $XRP For liquidity management and remittances.

$XRPThe speed and low cost of FX makes it an efficient tool for moving funds between exchanges and managing trading liquidity.

Payment providers also represent an important real-world use case. It is used by companies such as SBI Remit in Japan and Tranglo in Southeast Asia. $XRP Facilitate international money transfers through Ripple’s on-demand liquidity system.

In such a case, $XRP It acts as a temporary bridging asset, allowing funds to be moved instantly across borders without having to first deposit funds in a foreign account.

SBI Remit and Ripple partnership. Source: Ripple

Banks are using Ripple technology, but only selected partners are actually using it $XRP

But banks present a more nuanced picture. Major financial institutions such as Santander, Standard Chartered, and Bank of America use Ripple’s payments infrastructure.

But most of them use Ripple’s messaging and payments software without using it directly. $XRP itself. Used only by selected payment providers, not by widespread global banks. $XRP Directly for liquidity.

Beyond financial transfers; $XRP It also plays an important technical role within its own network. every $XRP Accounts must be maintained $XRPevery transaction requires the following $XRP To pay network charges.

$XRP Supports decentralized trading, token issuance, and on-ledger asset transfer.

So, $XRP It is neither useless nor widely adopted. Its usefulness lies in specific financial infrastructure roles, particularly liquidity provisioning and payment settlement.

Understand who is actually using it $XRP This reveals a clearer picture based on real-world features rather than guesswork.

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